HomeMy WebLinkAbout106 - 09/04/2018 - APPROPRIATING UNANTICIPATED GRANT REVENUE FROM THE COLORADO ENERGY OFFICE IN THE LIGHT AND POWER FUN ORDINANCE NO. 106, 2018
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED GRANT REVENUE FROM THE COLORADO
ENERGY OFFICE IN THE LIGHT AND POWER FUND FOR THE HOME
EFFICIENCY LOAN PROGRAM/ON-BILL FINANCING PROGRAM
WHEREAS, under Ordinance No. 033, 2012, the City established a Home Efficiency
Loan Program, also known as On-Bill Utility Financing (OBF), which enabled Fort Collins
Utilities to offer financing and on-bill servicing of customer loans for energy efficiency, water
efficiency and renewable energy upgrade projects; and
WHEREAS, between 2013 through 2016, OBF provided low-cost financing for energy
efficiency, solar photovoltaic, and water conservation improvements, in support of Utilities'
efficiency and conservation efforts, and policy goals from Plan Fort Collins, the Climate Action
Plan, Energy Policy and Water Conservation Plan; and
WHEREAS, in 2016, the City transitioned the funding methodology for OBF to a third-
party commercial model relying on an outside financing partner; and
WHEREAS, the rate of OBF residential customer energy efficiency building upgrades
under the third-party commercial loan model has lagged below levels required to achieve City
energy and climate policy goals; and
WHEREAS, in February 2018, the City was selected as a Champion City as part of the
2018 Bloomberg Philanthropies U.S. Mayors' Challenge competition; and
WHEREAS, in conjunction with selection as a Champion City,Bloomberg Philanthropies
awarded the City a $100,000 grant to develop a program to improve energy efficiency of low- to
moderate-income rental households, which was appropriated in Ordinance No. 082, 2018; and
WHEREAS, this item is to appropriate the Colorado Energy Office grant awarded to the
City of$200,000 to provide capital for a loan program to improve energy efficiency and renewable
energy for Fort Collins households; and
WHEREAS, Utility Services staff and the City Manager recommend appropriating the
Colorado Energy Office grant to continue the OBF program to increase participation by low- and
moderate-income households in energy efficiency and renewable energy programs, and thereby
increase the City's progress toward its 2030 energy and climate objectives; and
WHEREAS, Article V, Section 9, of the City Charter permits the City Council to make
supplemental appropriations by ordinance at any time during the fiscal year, provided that the total
amount of such supplemental appropriations, in combination with all previous appropriations for
that fiscal year, does not exceed the current estimate of actual and anticipated revenues to be
received during the fiscal year; and
WHEREAS, the City Manager has recommended the appropriation described herein and
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determined that this appropriation is available and previously unappropriated from the Electric
Utility Light and Power Fund and will not cause the total amount appropriated in the Light and
Power Fund to exceed the current estimate of actual and anticipated revenues to be received in that
fund during any fiscal year; and
WHEREAS, Article XII, Section 6 of the City Charter permits the City Council to approve
expenditure of utility funds for renewals, replacements, extraordinary repairs, extension,
improvements, enlargements and betterments of each Utility enterprise or other specific utility
purpose determined by Council to be beneficial to the ratepayers of such Utilities; and
WHEREAS, the City Council has determined it is desirable to enhance the program
incentives and financing options for new Home Efficiency Loan Program/OBF loans and provide
flexibility in the administration of those loans, in furtherance of the conservation benefits available
to ratepayers through the OBF program, as required by Article XII, Section 6 of the City Charter.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:.
Section 1. That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.
Section 2. That, for the reasons stated above, the City Council hereby finds and
determines that applying the Colorado Energy Office grant to enhance the program incentives and
financing options for the Home Efficiency Loan Program/OBF program, as described herein, will
be for the betterment of the affected Utilities and serve utility purposes beneficial to the ratepayers
of those Utilities by 08promoting and increasing energy and water conservation and efficiency and
reducing the need for additional resources to provide such utility services.
Section 3. That there is hereby appropriated for expenditure from unanticipated grant
revenue in the Light and Power Fund the sum of TWO HUNDRED THOUSAND DOLLARS
($200,000) for the purposes of developing and capitalizing the OBF program.
Introduced, considered.favorably on first reading, and ordered published this 21st day of
August, A.D. 2018, and to be presented for final passage on the 4th day of September, A.D. 2018.
Mayor
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Passed and adopted on final reading on the 4th day of September, A.D. 2018.
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